WARNING: Housing Bubble About To Burst
- Thread starter ViCiouS
- Start date
More and more Foreclosures again. Housing prices are high as hell again....
Banks doing the same BS as before
I saw a dude cutting the grass at a foreclosed house for the town and he said
there are as many foreclosed homes as he's ever seen.
Banks doing the same BS as before
I saw a dude cutting the grass at a foreclosed house for the town and he said
there are as many foreclosed homes as he's ever seen.
not in ht own..lol..we are doing well
Who was the first to call this shit.
This guy. I’ve been busier this year then I’ve been in years.
Houston has higher percentage of home foreclosures on the market ...
Chron.com- Mar 1, 2018
While 2.5 percent of Texans are seriously delinquent when it comes to home mortgages, Houston's average stood at 4.6 percent
Report: Houston mortgage delinquencies rise due to Harvey while ...
Houston Business Journal- Jun 12, 2018
In March 2017, 5.3 percent of Houston-area mortgages were at least 30 days past due or in foreclosure
What’s going to make this bubble worse then the last one is that property values have skyrocketed. It’s not going to be regular people buying property. It’s going to be corporations
All I know is I’m not lowering price of rent
My boy works for a co. that has over 5,000 sfr around the country...That was the move, to snap up all the old excess inventory of foreclosed houses, after 08...now, different investors/corps are who owns a large percentage of rental property. The landlord who has a second home he rents out is rare...
So what now , wait for banks to refi ?
hopefully, house prices drops enough to be able to buy a house. Crazy ridiculous right now.
I don't understand. Why won't regular folks buy them when the prices dip low enough?
Man, I'm looking to buy a McMansion for pennies on the dollar. Probably get a few condos downtown too, and use the rent from them to pay the mortgage on the McMansion and the note a on new car or two....
So isn't this soon gonna be the BEST time for first time home buyers?
I'm expecting credit to dry up...
but we'll see what happens
I did very well after the last crash and I do believe this market is out of control. I have stopped investing for now because the ROI just does not make sense. However, I doubt a crash is going to happen anytime soon, because the job market is too strong and interest rates are still artificially low. Interest rates are going to have to significantly go up (not these small jumps) and the unemployment would have to sharply rise also. I do believe there will be a correction and a leveling off due to supply and demand, but I doubt it will be anything like 2008.
That's what I'm worried about. I got an alert that one of my homes hit 1 mil. I was happy, but it's not worth that. Thinking I should dump it this summer and cash out before the crash. If it drops to half I won't be under water but who wants to start over?
Something fishy is going on. I see homes in my old neighborhood have crept back up.That's what I'm worried about. I got an alert that one of my homes hit 1 mil. I was happy, but it's not worth that. Thinking I should dump it this summer and cash out before the crash. If it drops to half I won't be under water but who wants to start over?
Yeah, cause when I bought about 5 years ago, the price had dropped down, but now it's more than it was at the first peak
Obamas program helped people stay in their homes but it did nothing about the mortgages being underwater.
The only thing that will head off another bubble bursting is to allow Bankruptcy judges to change the terms to match the properties current value
Otherwise, you will continue to see people simply walk away from the properties
And with the backlog of foreclosures, people will stay in the home and save money until they have to leave That will be at least a year or two of banking the mortgage payments
The only thing that will head off another bubble bursting is to allow Bankruptcy judges to change the terms to match the properties current value
Otherwise, you will continue to see people simply walk away from the properties
And with the backlog of foreclosures, people will stay in the home and save money until they have to leave That will be at least a year or two of banking the mortgage payments
have to remember a lot of wealthy foreign investors were buying up foreclosures especially the entry - mid level houses. i'm speculating that made housing prices shoot up, many that got homes right outside of the sweet spot ended up in situations in which they're "house poor" as prices climbed they utilized HELOC to relieve their financial strains and if it wasn't fix rates those are going to rise and you know the rest
- I assume taxes
- I've seen my share of people losing homes due to taxes and home owners association cost.
- some neighborhoods in Houston have high tax rates.
In Detroit a lot of investors swooped in to buy several houses and property on the cheap. Nowcthey are trying to flip them at downtown Chicago prices. I’m seeing 500k condos for sale. Downtown, really?. These folks are acting like Detroit won the Amazon hq. Ain’t that much new money in the area. And wages have been stagnant
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well THAT answers my question.
I’ve been telling kats in Greensboro that shit will be going down. One of the reason I’ve been so patient, building credit and saving money.
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